TikTok has been in the news this year for all the right and wrong reasons but that hasn't stopped its parent company Bytedance to think of new ideas for expansion. After launching its first smartphone in a partnership with Smartisan, Bytedance is now going to play in the music streaming market with its own subscription-based service. The app doesn't have any name so far but it will compete with Apple Music and Spotify, say media reports.

TikTok is said to roll out its subscription-based music streaming service by next month although it still hasn't given it any name. That said, Bytedance is directly aiming for the big guns of the industry such as Apple Music, Spotify and other with its paid subscription plan. Reports say that Bytedance is trying to get licensing deals from Universal Music, Sony Music and Warner Music.

But will it be different from existing paid music subscription plans? Bytedance is said to differ its service from others with the help of short video clips. These clips can be shared with other users in order to create more viral videos in the communities. The video can also be used to find music on the app's library.

Bytedance will initially rollout the service in developing markets that include India, Brazil and Indonesia, with plans to bring it later to markets like the US. The subscription prices are yet unknown but it is said that the service will be cheaper than what you have to pay for Spotify or Apple Pay. It isn't known whether this app will have any link or integration with TikTok or vice versa.